The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1887-10-17
NO PANIC
Nor any symptonts OF Cue. Says Chnunaey
GspeV,


Hspew.
NJ. FoRE, Oct. l5.-Chauacey NJ, De.
paw, President Of the New York Central
Railroad, recently quoted as predicting q
panic, arrived from tho Weat thia morn
ing, and to a reportor;of. the Evening Post
expressed hi@self as ,olloSa;
II never found myuelfin such a scrape
before. ! have often seen the late Mr..
Vanderbilt in a similar prsjicament, but
it is my first experience. l. arose in this
way: The reporter, q very reputable man,
bad atrong Convictions OF his own. His
time was very limited. And he attributed
some OF bic own remarks to NE. He talk.
cd as much as l did. He also evidently
misunderstood tho meaning ol my re.
marka. OF cou,ae l did not predict o
panic. !! had 70 reasaa or dosisa 10 10 40.
IN tact ] am OH tho other side Of the
houae. AS matter OF fact tho country
ia an exceedingly prosperous condition,
Where there is exccss OF land speculation,
it purely local. For instance,in Alabama
aome OF the specu!atore heyo staked lots
right out to sho sea in the hope that they
would sell them. They have no. done 90,
and tho farmers have simply pulled up
stakes and resumed farming. Nobody ia
hurt outside Of tho locality. Railroad
construction in tho Northwest is perhsns
q little ahead Of the needs, but tte,o ID
not the sliGhtads danger OF a panic, I'm.
dor the operations OF the Interstate Com.
me1ce law all old railroad properties are
improving. The Vanderbilt aystem OF
railroads was never Geen in anch good
phyeicNl condition before, and rs far as wo
could learn, tho esrnipss will eoatiaue to
s.ow better. In fsct, In places Nike Kan.
sas City, Sioux City, and MI places west
tho busineBs activity Ia phenomenal, Two
years nso We largely Increased on- moilye
power and rolling a.oox in authorization Of
AT increase In 'buaineBs. To-day we have
not cara enough to carry tho freight Of
fered.
In conclusion, Nj. Dep9V said; "Ths
AGtnInss OF tbs laiiroGdG, which nre,
think, no oorrcc. II criterion OF prosperity
as exists, arn at present on the Vanderbilt
System simply magnificent, md from
what | can SEQ and learn they are equally
good Oh mcet OF tho raitroadu Of tho coun.
try. Bueiness prosperity 10 ct present %.
tstlahea on tle Gea. foundations, and /
csn GEO no contingencies that may ariae to
ahako il. Industrial establishments sre
thriving this year aa nevpr before, com.
morco ia active and etrong, md the busI.
ncgd iuteresta Of the country arc In II
hoalthy and vigorous condition."
~ certainly had no intention Of prrci.
pis,ing panic. Tho Wholp t;oauls wss,
as hNye al,csdy told you, due 10 tho st,
Louis innn Misunderstanding me. He
waa introduced to me by some OF our rail
road people, and, Of courae, ! wished to DO
tho boa! | could for him, Ho only hnd Il
abort time 10 got hia copy in, and, being u
MN OF stronR convictionu, no mixed up
aomo Of his own ro,nNrks with mine. In
| q Tailor report tha. lse yrosG tho next day
Of pa.t Of THO eonvGr6ation ho hud with
the, lo was much more correct. ! had no
ido6, however, hptoro that 60 m6G value
wan plauod OIL any wordu Of miue.'
Mr.. Dspew looked In capital phyuicai
condition ntter his rapid journey Of 5000
miles.